Max Cleland: “the year 1996 witnessed both a record high in the amount of money spent in pursuit of federal office--a staggering $1…”

“the year 1996 witnessed both a record high in the amount of money spent in pursuit of federal office--a staggering $1 billion, an increase of 73 percent just since 1992--and the second worst turnout in American history. In 1996, some $220 million was spent on Senate races alone--an average of $4.5 million per campaign. Members of Congress combined currently raise an average of about $1 million a day. It has been estimated that if these trends continue, by the year 2025 it will take $145 million to finance an average Senate campaign. This is truly a ridiculous situation. When I came to the Senate last year, I volunteered to serve on the Governmental Affairs Committee. Sitting in the Committee's hearings on campaign finance abuses and listening to the sordid tale of the 1996 money chase was a most unsettling experience. What I witnessed, heard and read made me even more convinced that we must strengthen our campaign financing laws, now, and provide strong enforcement through the Federal Election Commission of these laws, now, or risk seeing our election process be swept away in a tidal wave of money.”